We’ve already funded the retirement of retirees. The military may have the only pension fund that has been fully funded with no sign of going in the black. And while I would cheerfully still be in the military, that wasn’t an option - by law.
Military retirement is a deferred payment plan. And since relatively few stay in 20+ years, it is cheap - a pension fund where only those staying in for 20 years or more collect, and where the duty is such that people rarely stay in that long.
And the bottom line is that it was fully funded during the time we were in.
Now Congress wants to raid the pension fund. By cutting payments, it can say the fund is overfunded, and transfer money from that account into current spending - on tax rebates to illegals who didn’t pay taxes, or Obama phones, or the Dept of Education, or anything else that buys votes.
Maybe you don’t think that is corrupt. I do. If an “evil corporation” did that, the CEO would go to jail. Military pensions have been fully funded. Period. This is Congress raiding it, so they can spend that $600 million each year on Hispanic voters, or on welfare moms.
And anyone in the military needs to look at what Congress is doing to current retirees, even when there is no shortfall, and learn how much modern Americans - including a lot of Freepers, it seems - value their service. I used to strongly recommend young people consider the military as an option. No longer. My 16 year old daughter is the only family member without military service. Recruiters ought to LOVE me and my family. But no more...
Heck! If the people on FreeRepublic don’t care, who will?
“The military may have the only pension fund that has been fully funded with no sign of going in the black. And while I would cheerfully still be in the military, that wasn’t an option - by law.”
It was “funded” with non-negotiable bonds which is another way of saying “pay later”
Now we have to pay and we don’t have the money.
So what do we do?
If the story is correct, we’re talking about multi-million dollar retirement packages funded by taxpayers. We can’t afford to pay.
It’s not anything but fact. Right now we are pretending to afford it through borrowing, but we won’t be able to do that forever.
So again, I ask, what do we do?
You are the type of guy who is getting more from your military pension than you can spend. So when you pass your children get a larger inheritance. This is how it should be rather than your pension system being raided by Democrats for their various vote buying schemes and to illegal aliens and their anchor babies
Far better that your children and grandchildren should get this money (eventually) Set up a revocable trust to bypass the probate lawyers (aka parasites)